Ralph Oppenheimer retires as Stemcor Group chairman

The world's largest independent steel trader Stemcor announced today, September 16, that Ralph Oppenheimer will retire as group chairman and from the board with immediate effect.
 
Mr. Oppenheimer, 72, has been chairman of Stemcor for 31 years, having been appointed in 1982. The move follows his decision to step down as executive chairman at the end of 2012.
 
Ralph Oppenheimer joined Coutinho, Caro & Co Ltd, a joint venture business established between his father, Hans Oppenheimer, and the German trading company, Coutinho, Caro & Co (CCC), in 1965. Following CCC's acquisition by McDermott International, he successfully negotiated the purchase of the remaining 50 percent stake in 1987 and subsequently renamed the company Stemcor. During his tenure as chairman, Mr. Oppenheimer has overseen a sustained period of growth leading to Stemcor becoming the world's largest independent steel trading company.
 
Stemcor stated that it has started the process of finding a new chairman and expects to be able to make an announcement shortly.